Romania's HoReCa sector is no longer building its plans around expansion, but around resistance, and only 17.3% of entrepreneurs expect business growth, while 82.6% estimate stagnation, decrease or even the risk of closure, according to a survey conducted by the Federation of Romania's Hospitality Industry Employers (FPIOR).

The results of the 'HoReCa Confidence Index 2026' also show that almost eight in ten entrepreneurs reduce or freeze investments, and almost half take into account staff reduction.

The survey outlines a sector where entrepreneurial optimism has fallen into minority. Asked how they expect their business to evolve in the next 12 months, only 17.3% of respondents anticipate growth, 11.5% believe they will see slight growth, and 5.8% expect significant growth.

On the other hand, 26.9% expect their business to decrease, and another 26.9% estimate stagnation.

The most severe signal comes from the 28.8% who say that there is a risk of having to close their business. Basically, for 82.6% of the entrepreneurs surveyed, the next 12 months do not mean growth: their business will either decrease, or stagnate, or may end up in a situation of closure.

Also, the investment barometer shows how quickly distrust turns into concrete decisions. Only 11.5% of entrepreneurs say they will increase investments in the next 12 months, and 9.6% intend to keep them unchaged.

On the other hand: 28.8% will reduce investments; 28.8% will completely freeze investments; 21.2% will give up on expansion projects.

'In total, 78.8% of respondents say they will reduce, freeze or abandon investments. Basically, before a business closes, the entrepreneur stops investing in its development. In the case of HoReCa, withdrawal is already visible in almost eight out in ten respondents,' FPIOR points out.

The biggest problem indicated by HoReCa entrepreneurs is the decrease in the number of customers, mentioned by 69.2% of respondents. At a very short distance are taxes and taxation, indicated by 67.3% of entrepreneurs, followed by the increase in raw material costs - 51.9%, rents and utilities - 40.4%, staff shortage - 30.8%, other problems - 1.9%.

'The resulting image is that of a business hit, simultaneously, from two directions: revenues are threatened by the reduction in consumption, while costs and the tax burden continue to increase. For HoReCa, the problem is no longer only how much it costs to operate a restaurant, a cafe or a hotel, but whether there is enough demand to cover these costs,' according to the employers' association.

Ask what measures they could take, if the current economic and fiscal context continues, entrepreneurs indicate first of all cutting costs and postponing development. 51.9% indicate the postponement of investments, and 48.1% contemplate reducing their staff.

Other measures mentioned are: price increase - 28.8%; shorter business hours - 23.1%; closing outlets - 23.1%; no change - 9.6%.

'Behind these figures are entrepreneurs who have built businesses, created jobs and invested in this industry for years. Today, however, almost three in ten say that there is a risk of closing their business, and 82.6% do not see growth in the next 12 months. This is the reality of HoReCa in 2026. It means that entrepreneurs no longer have room for mistakes, for additional costs or for unpredictable decisions. In an industry where margins are already very small, decreasing consumption and the tax burden are immediately seen in investments, in jobs and, ultimately, in the ability of a business to continue. And when almost eight in ten entrepreneurs say they are reducing, freezing or abandoning their investments, we have to ask ourselves what kind of industry we will have in a year's time. HoReCa cannot function without investments, without people and without consumption. Therefore, these data must be a starting point for decisions that allow the industry to remain competitive and continue to contribute to the Romanian economy,' says FPIOR executive chairman Calin Cozma.

On the other hand, 7.7% of the surveyed entrepreneurs say they are very confident in the future of their business, and 23.1% are quite confident. In total, 30.8% maintain a level of confidence in the future.

Also, 25% are rather distrustful, and 19.2% say they are not at all confident. Thus, 44.2% have a negative perception about the future of their own business, and another 25% have chosen a neutral stance.

'The difference between the two camps is relevant: the share of distrustful entrepreneurs is 13.4 percentage points higher than those who trust in the future. Moreover, the fact that the decrease in the number of customers is indicated as the main problem, and taxation is almost at the same level, suggests that HoReCa is simultaneously feeling the weakening of consumption and the increase in cost pressure. Thus, the year 2026 may become for an important part of the industry not the year of development, but the year in which entrepreneurs decide what they can keep left: investments, employees, schedule, venues or, in the most difficult cases, even the business,' the survey indicates.

'HoReCa Confidence Index 2026' was conducted on a sample of 570 entrepreneurs in the HoReCa sector.

The Federation of Romania's Hospitality Industry Employers (FPIOR) is the largest national organisation in the field, bringing together over 1,000 companies and representing 24 counties plus Bucharest city, 29 employers' associations and over 30,000 employees. AGERPRES (RO - editing by: Oana Tilica; EN - writing by: Corneliu-Aurelian Colceriu)